API Re's team is headed up by several key executives with decades of experience working with reinsurers and program managers, crafting coverage structures to meet the needs.
Division President Mark Maxson, with over 40 years of experience in reinsurance markets and placements around the world, officially joined API Re as Division President on July 1, 2017. Mark has worked closely with the management team at Allied for over twenty five of those years, helping craft a risk retention, risk placement, and reinsurance strategy for Allied that was instrumental in Allied's growth from $150,000 in annual premium and membership fees in 1992 to over $44,000,000 in annual premium and membership fees in 2016. Mark's close working relationship over the years, makes him the perfect executive to lead Allied's initiative to expand its presence as a key reinsurance broker and intermediary in the specialty insurance marketplace.
Mr. Maxson joins Allied from JLT Re (North America) Inc., where he served as Executive Vice President since 2013 when he was tasked to open JLT's Western Regional office in San Francisco. Under his leadership, the operation grew from a start up to over $15 million of ceded premium annually to reinsurers. Prior to JLT Re, Mr. Maxson spent 20 plus years with Willis RE, in the production and servicing of Property and Casualty reinsurance including Workers Compensation, General Liability, Product Liability, and Medical Malpractice programs, primarily servicing captive insurance companies and Risk Retention Groups. He is currently a Board Member of the National Risk Retention Association and has been a regular speaker at NRRA's annual conferences. Mark has also been called upon by the California Department of Insurance for his expertise in Workers Compensation and reinsurance run-off business.
Mr. Maxson is a graduate of the University of California at Santa Barbara in Economics and has an MBA from the University of Puget Sound in Tacoma, Washington. Mr. Maxson lives in Orinda California with his wife of 28 years, Mary Maxson. Mr. Maxson's charitable and community involvements include serving as a past member of the Directors' Council of the Insurance Industry Charitable Fund and a current Member on the Athletic Board of the University of California at San Diego. In addition to their many other philanthropic interests, Mark and Mary are supporters of the San Francisco Ronald McDonald House.
Michael Schroeder heads up API Re's legal team. Nationally known for his involvement in the enforcement of the Federal Liability Risk Retention Act, Mike has personally argued cases defending the risk retention industry in front of the California Supreme Court, the Texas Supreme Court, the 9th District U.S. Court of Appeals, and a host of other landmark cases. Mr. Schroeder is widely regarded as one of the leading experts in the nation in the risk retention industry, and will be installed as Chairman of the National Risk Retention Association later this year.
Mr. Schroeder was one of the Company's founders, forming its first Risk Purchasing Group, the National Chiropractic Council, in 1986, shortly after Congress authorized the current expanded version of the Federal Liability Risk Retention Act. In addition to overseeing the Company's legal operations, Mr. Schroeder is actively engaged in negotiation of reinsurance arrangements and the drafting and review of final reinsurance contract language. Mr. Schroeder has extensive experience in all aspects of specialty program formation, establishing formal risk selection procedures to guide underwriting decisions, claims management, policy language development, reinsurance structuring, capital market negotiations, and assembling and overseeing a team of in-house and contract experts to ensure the effective resolution of liability exposures.
Mr. Schroeder is a graduate of University of Southern California, where he received both his undergraduate degree and his Juris Doctorate. Mr. Schroeder is active in community, charitable and political activities, including serving on the Board of the U.S.C. Law School and the national Board of U.S.A. Volleyball. Mr. Schroeder is past Chairman of the California Republican Party, and a former California Republican National Committeeman. Mr. Schroeder remains active as an advisor in local, regional and national political initiatives.
Philip Stump, in addition to serving as President of Allied Professionals, orchestrates overall support for API Re. Mr. Stump joined Allied in 1994, and was instrumental in leading the Company through national expansion, licensure, establishing the Company's independent underwriting facility, and achieving an A- AM Best Rating for the program. Under Mr. Stump's leadership, the Company evolved from a small, only California program, insuring 150 professionals, to the leader in the nation in Acupuncture professional liability coverage with 15,000 members, the leader in Massage professional liability coverage, with 90,000 members and the second largest provider in Chiropractic, with 19,000 members. Mr. Stump has been involved in dozens of program acquisitions, and been personally involved in negotiating and structuring all of the Company's reinsurance placement.
During his 23 year tenure with Allied, Mr. Stump has been responsible for oversight of all aspects of the operation of the Company and its various affiliated entities. In this regard, Mr. Stump has been involved in a wide range of areas related to the management and operation of specialty insurance programs. These areas include: New Product Development, Product Promotion, Sales, Operations Management, Policy Production and Processing, Licensing and Compliance, Accounting, Reinsurance, Acquisitions, Capital Market Funding, etc. Mr. Stump also has extensive experience in the formation of captive insurance based programs, including: Program Feasibility Analysis, Identification of Sponsoring Carriers or Reinsurers, Negotiation of Participation Structures, Management of Reinsurance and Capital Partner Relations, and Assessment of Legal and Regulatory issues related to Captive Formation.
Mr. Stump has been a Licensed Property and Casualty Insurance Broker since 1989, and currently holds designations as a non-resident surplus lines Agent or Broker in 50 States, the District of Columbia, and several U.S. Territories. Mr. Stump holds an undergraduate degree in Finance from California State University, Fullerton, and a Masters in Business Administration from Harvard University. Mr. Stump's current community involvement includes serving as Chairman of North Orange County's Los Amigos Boy Scout District, and incoming Chairman of Board of Directors of Servite High, an Anaheim based all-boys Catholic School.
Zora Law heads up Allied's analytics efforts. Working closely with our other team key team leaders, Zora develops the analytical models needed to properly evaluate risk and to model outcomes associated with varying risk sharing structures.
Mrs. Law is a qualified actuary with over ten years of experience in the property and casualty industry, working both on the carrier and the consulting side of the business. Prior to joining Allied in 2015, Mrs. Law worked as an Actuarial Manager for Deloitte Consulting, LLP Los Angeles, where she was engaged in a wide range of assignments for insurance companies, reinsurance companies and captive insurance companies. Her experience spans a broad spectrum of analytical assignments including comprehensive actuarial reserving, independent testing of actuarial methodologies on the loss reserving process, assessing the appropriateness of assumptions and selection of data in determining the ranges of reserve estimates and reasonableness of booked reserves, Economic Capital Modeling for internal planning and regulatory purposes, ORSA and other solvency regulations. Ms. Law's experience stretches across a number of business lines including, Workers Compensation, Medical and Specialty Professional Liabilities, E&O, D&O, Auto Liability, Homeowners & Commercial Property Damage, General Liability, Product Liability, Business Interruption, Mortgage Insurance, Environmental Liability and Asbestos.
Prior to joining Deloitte in Los Angeles, Ms. Law worked for four years with Deloitte in Ireland where she gained considerable international insurance experience, including involvement in Solvency II projects such as QIS4-5 submissions, and modeling and calculation of Pillar I SCR for captives/small (re)insurers. Ms. Law is a Fellow of the Casualty Actuary Society, a Member ofthe American Academy of Actuaries, and a Fellow of the Institute and Facility of Actuaries, United Kingdom. Ms. Law is a graduate of Trinity College, University of Dublin, where she received her Bachelor of Arts, with Honors, in Theoretical Physics.